Chevron Lubricants Lanka PLC (Chevron) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of May.

Speaking at the ceremony, Mr. Kishu Gomes, CEO/MD at Chevron said “We are proud about what we have been able to deliver to our shareholders. We focus on creating shareholder value by managing the performance of the organization and by taking a day-to- day approach to compliance and conformance. Listing on the CSE has created a need for transparency, a need that has benefitted us when building a corporate brand both locally and internationally.”

He added “We are pleased with how we have created value for both the market and the country. We believe that liquidity of our share market capitalization will improve further with the implementation of the recently announced share split”.

Mr. Vajira Kulatilaka, the Chairman of CSE commended Chevron for its strong presence in the market and stated that the company’s listing has offered investors value and variety. He acknowledged the efforts made by Chevron to create shareholder value, especially the company’s measures to offer benefits to minority shareholders via dividends.

Commenting on developments at the CSE Mr. Kulatilaka further stated “A number of important developments at CSE are expected this year. The Broker Back Office system is almost completed, which is a prerequisite to implement the CCP and also to implement Delivery vs. Payment. We are also looking to list foreign companies at the CSE to offer a better portfolio to our investors and to create market depth. These developments will help the CSE to reach international standards, standards that are essential when providing infrastructure for the exchange of securities.”

Market Opening Ceremonies are conducted by the CSE to serve as a platform to generate exposure for listed companies as they celebrate important milestones in the capital market.